Adani Power loss narrows to Rs. 289 crore in Q3
Adani Power on Thursday reported narrowing of its consolidated net loss to Rs 289 crore in December quarter 2020-21 mainly due to higher revenues. The company had a net loss of Rs 703 crore in the year-ago period.
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New Delhi: Adani Power on Thursday reported narrowing of its consolidated net loss to Rs 289 crore in December quarter 2020-21 mainly due to higher revenues.
The company had a net loss of Rs 703 crore in the year-ago period.
Total income rose to Rs 7,099.20 crore in the quarter from Rs 6,684.52 crore in the same period a year ago. During the third quarter, Adani Power along with the power plants of its subsidiaries achieved an average Plant Load Factor (PLF) of 75 per cent, and aggregate sales volumes of 19.1 Billion Units. In the year-ago period, Adani Power and its subsidiaries achieved an average PLF of 65 per cent and sales volume of 16.4 Billion Units.
Improvement in PLF was due to higher demand for power under both long-term and short-term PPAs (power purchase agreement) and merchant markets, it said. "India has demonstrated its indomitable spirit by combating and restricting the toll of Covid-19 on its people and the economy.
The nation is poised to take off on a path of high growth for the economy and prosperity of its people, presenting an attractive set of opportunities for committed players in the infrastructure space," Gautam Adani, Chairman, Adani Group said. He further said energy will play a key role in fulfilling the dreams of the young citizens, and the demand for power will call for imaginative solutions for ensuring sustainability and stability.
